Ares Dynamic Credit Allocation Fund (NYSE:ARDC) Stock Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Ares Dynamic Credit Allocation Fund, Inc. (NYSE:ARDC) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $13.43 and traded as high as $13.57. Ares Dynamic Credit Allocation Fund shares last traded at $13.45, with a volume of 86,848 shares trading hands.

Ares Dynamic Credit Allocation Fund Stock Down 0.4%

The business’s 50 day moving average is $13.43 and its two-hundred day moving average is $13.93.

Ares Dynamic Credit Allocation Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Friday, January 30th. Stockholders of record on Tuesday, January 20th will be given a $0.1125 dividend. The ex-dividend date is Tuesday, January 20th. This represents a c) annualized dividend and a dividend yield of 10.0%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ARDC. Shaker Financial Services LLC purchased a new position in Ares Dynamic Credit Allocation Fund during the 4th quarter valued at about $3,252,000. AdvisorNet Financial Inc grew its stake in Ares Dynamic Credit Allocation Fund by 52.0% during the fourth quarter. AdvisorNet Financial Inc now owns 485,021 shares of the company’s stock valued at $6,451,000 after acquiring an additional 165,888 shares in the last quarter. Curated Wealth Partners LLC grew its stake in Ares Dynamic Credit Allocation Fund by 2.6% during the fourth quarter. Curated Wealth Partners LLC now owns 87,908 shares of the company’s stock valued at $1,169,000 after acquiring an additional 2,269 shares in the last quarter. Polar Asset Management Partners Inc. increased its holdings in Ares Dynamic Credit Allocation Fund by 2.6% during the 3rd quarter. Polar Asset Management Partners Inc. now owns 54,731 shares of the company’s stock worth $770,000 after acquiring an additional 1,361 shares during the period. Finally, Raymond James Financial Inc. lifted its stake in Ares Dynamic Credit Allocation Fund by 5.8% in the 3rd quarter. Raymond James Financial Inc. now owns 50,535 shares of the company’s stock worth $711,000 after purchasing an additional 2,781 shares in the last quarter.

About Ares Dynamic Credit Allocation Fund

Ares Dynamic Credit Allocation Fund (NYSE: ARDC) is a closed-end management investment company that seeks to deliver attractive risk-adjusted returns through a diversified portfolio of credit instruments. Launched in mid-2019, the fund is sponsored and managed by Ares Management Corporation, a leading global alternative asset manager. ARDC’s investment objective centers on generating current income with an emphasis on preserving capital, drawing on Ares’s extensive experience in the credit markets.

The fund deploys capital across a broad spectrum of corporate credit opportunities, including senior secured loans, high-yield bonds, subordinated debt and direct lending to middle-market companies.